Neo Performance Materials (TSE:NEO) Sets New 12-Month High at $8.69

Neo Performance Materials Inc. (TSE:NEO) hit a new 52-week high during trading on Thursday . The stock traded as high as C$8.69 and last traded at C$8.30, with a volume of 51313 shares traded. The stock had previously closed at C$8.14.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Cormark upped their price objective on shares of Neo Performance Materials from C$12.00 to C$12.50 in a report on Wednesday, August 21st. Canaccord Genuity Group upped their price objective on shares of Neo Performance Materials from C$11.00 to C$12.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus upgraded shares of Neo Performance Materials from a “hold” rating to a “buy” rating and upped their price objective for the stock from C$7.50 to C$13.00 in a report on Wednesday, June 19th.

Neo Performance Materials Stock Up 1.8 %

The stock’s 50-day moving average price is C$7.85 and its two-hundred day moving average price is C$7.17. The stock has a market capitalization of C$346.11 million, a PE ratio of 81.40 and a beta of 1.39. The company has a debt-to-equity ratio of 13.02, a quick ratio of 1.92 and a current ratio of 3.31.

Neo Performance Materials (TSE:NEO) last released its earnings results on Friday, August 9th. The company reported C$0.16 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.05 by C$0.11. The firm had revenue of C$147.15 million for the quarter, compared to the consensus estimate of C$169.30 million. Neo Performance Materials had a net margin of 0.69% and a return on equity of 0.85%. As a group, analysts expect that Neo Performance Materials Inc. will post 0.6784141 EPS for the current fiscal year.

Neo Performance Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Tuesday, September 17th. Neo Performance Materials’s payout ratio is presently 400.00%.

Neo Performance Materials Company Profile

Neo Performance Materials Inc engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals and Oxides, and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets; and bonded magnets.